Florida gas prices climbed sharply last week, reaching their highest daily average since May as rising crude oil prices continued to push fuel costs higher, according to AAA.
The statewide average price for regular gasoline reached $4.33 per gallon Friday before easing to $4.30 on Sunday. Sunday’s average was 15 cents higher than a week earlier, 35 cents higher than a month ago and $1.16 higher than at the same point last year.
AAA said Florida gas prices rose 21 cents per gallon during the week as crude oil prices continued to increase. Oil prices climbed as much as 27 percent over the past three weeks, with crude settling at $105.83 per barrel Tuesday, its highest daily closing price since May.
“Rising oil prices contributed to the latest jump at the pump,” said Mark Jenkins, spokesman for AAA.
Jenkins said uncertainty surrounding global oil supplies amid ongoing tensions in the Middle East has placed additional upward pressure on crude prices. Crude oil accounts for roughly half the retail cost of gasoline, according to AAA.
At current prices, drivers are paying about $65 to fill a typical 15-gallon tank, about $6 more than a month ago and nearly $20 more than a year ago.
West Palm Beach-Boca Raton had the state’s highest metro average at $4.45 per gallon, followed by Homosassa Springs and Naples at $4.37. Panama City had the lowest average at $4.04, while Crestview-Fort Walton Beach and Pensacola averaged $4.05.
AAA said future gas price movements will largely depend on developments in global oil markets.
